👇WHY $FRAX COULD CRASH BEFORE NEXT BOUNCE!
🔥YOU DON'T WANNA MISS THIS TECHNICAL ANALYSIS :
Though chart looks like price is ready to break out
above the top resistance line because of the amazing
bullish follow-up, however MACD & RSI tells a different
story. MACD on daily time frame is showing selling
pressure mounting as price heads into distribution
phase and it converges, typical sign of trend reversal.
Though overall structure (Ascending triangle) remains
bullish but price is still in consolidating phase unless
it can maintain & sustain momentum above 1.25.
RSI(6) is also neutralizing at high 50s with posture
slightly tilting towards the downside indicating that
sellers are already getting activated and booking
their profits at current resistance level.
Targets for Short Entry : 1.13, 1.05 & 0.97.
Stop loss : 1.35
DYOR
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